Renovated Victorian
For Sale
$2,700,000
1117 Glenwood Road, Brooklyn, NY 11230
Residential, Triplex, Brooklyn, NY
Property Size2,723 SF
Lot Size0.06 Acres
Price / SF$991.55
Days on Market135
Property Features for 1117 Glenwood Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R2
Bedrooms
8
Bathrooms
6
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 6, Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 7, Bedroom 8, Bathroom 5, Bathroom 4, Bedroom 4
Interior features
Central Air, Stove
Basement
Finished, Full
Subdivision
Midwood
Standard status
Active
Size
2,723 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
7169
Amenities
balcony
Building Details
Year built
1910
Floors in Building
3
Number of units
2
Flooring type
Ceramic, Hardwood, Carpet
Building materials
Brick, Wood Frame
Architectural style
Other
Listing Agency:
Metro Realty Professionals
Listed By:
Jian Yang (Carey)
(718) 838-2600
Added: Apr 23
Changed: Aug 24
Last Checked: Sep 4 at 10:06AM
MLS# 500824
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,723-square-foot detached Victorian triplex was built in 1910 and includes hardwood, carpet, and ceramic flooring. The property offers multiple living areas, kitchens, bedrooms, and bathrooms across the main, upper, basement, and attic levels. The finished basement includes a family room, computer room, den, gym area, and full bathroom, while the finished attic provides storage. A balcony, side entrance, and separate-entry configuration add functional flexibility.
Major improvements include updated electrical wiring and plumbing, insulated walls, radiant floor heating, nine split ACs, two gas boilers, and two water heaters. The roof was redone ten years ago. A paved front yard provides parking for two additional cars, and the private driveway accommodates five cars. The home is located near stores on Coney Island Avenue and public transportation. Delivery vacant is available upon request.
Major improvements include updated electrical wiring and plumbing, insulated walls, radiant floor heating, nine split ACs, two gas boilers, and two water heaters. The roof was redone ten years ago. A paved front yard provides parking for two additional cars, and the private driveway accommodates five cars. The home is located near stores on Coney Island Avenue and public transportation. Delivery vacant is available upon request.
Key Highlights
- 2,723 SF detached Victorian triplex built in 1910
- R2 zoning on a 0.0634‑acre lot
- Finished basement with family room, computer room, den, gym area, and full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$95,364
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,907,280
$1.9M
Cap Rate 7%
$1,362,343
$1.4M
Cap Rate 9%
$1,059,600
$1.1M
Market Conditions
NOI Build-Up for 2,723 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$138.9K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$136.2K $50.03/SF
− OpEx
−$40.9K −$15.01/SF
NOI
$95.4K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,907,280
Cap Rate 7%
$1,362,343
Cap Rate 9%
$1,059,600
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,364 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,130 @ 7.0% cap · market cap 3.08%
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,825 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,573
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Detached multifamily residence with finished basement, attic storage, multiple kitchens, and private off-street parking.
Where is this triplex located?
The property is located at 1117 Glenwood Road Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 2,723 SF detached Victorian triplex built in 1910; R2 zoning on a 0.0634‑acre lot; Finished basement with family room, computer room, den, gym area, and full bath
